ADA, & Three Other Crypto Faces Delisting On Binance, Brace For Market Impact

full version at coingape

Crypto exchange Binance will delist four trading pairs involving ADA, AEVO, AST, and MANTA as the market braces for a rebound. The exchange cited reasons ranging from enhanced market trading and liquidity for the move. Crypto exchanges continue to change listing periodically which also affects the momentum of tokens.

Binance To Delist ADA & Other Crypto Trading Pairs

Binance announced that it will delist four crypto in BTC, BNB, and TUSD trading pairs. According to the statement, these pairs; ADA/TUSD, AEVO/BNB, AST/BTC, and MANTA/BNB will be removed on Aug 2 citing market factors. These factors stem from the need to provide high-quality trading markets for users. The platform usually acts based on reduced liquidity and trading volumes.

The exchange advised users on certain steps following the announcement to avoid losses. Users can still trade ADA and other affected tokens on other pairs provided they are listed on the platform.

“Delisting a spot trading pair will not affect users’ ability to trade its corresponding tokens on the Binance spot platform (if applicable). Users can still trade the underlying assets and quoted assets of the spot trading pair on other trading pairs provided by the Binance platform.”

The crypto exchange will remove the trading bot service applicable to the listed pairs advising users to cancel the bots before associated services are halted. Binance is the largest exchange by trading volume making listings and delisting tokens having a higher impact on the asset’s community.

Also Read: Bank of Japan Rate Hike Leads to Bitcoin Volatility, All Eyes on US Fed Meeting

Users Point At Better Market

Although most users would not prefer to see trading paired delisted, some opine it’s for the greater good of the general trading experience. Low liquidity in pairs can distort prices leading to hiccups for several traders. ADA community remains resolute around social media spaces on the growing momentum of the asset amid recent partnerships and upgrades. On the side of the exchange, Binance Labs continues to support the crypto market by empowering new projects.

Also Read: Terra Hack: $5 Million Reportedly Stolen Amid Terraform Labs Bankruptcy

The post ADA, & Three Other Crypto Faces Delisting On Binance, Brace For Market Impact appeared first on CoinGape.